Threshold Price Prediction After the Coinbase Listing

Threshold’s price has been in a strong bullish trend in the past few weeks as investors wait for the mainnet launch. T/USD price soared to a high of $0.063, which was about 221% above the lowest level in 2022. It has pulled back to the current price at $0.050, giving it a market cap of over $401 million.

What is Threshold?

Threshold is a blockchain project that emerged after the merger of two blockchains: Keep and NuCypher. Keep Network was a blockchain created by Thesis, a firm founded by Matt Luongo. On the other hand, NuCypher was a tool that created a tool known as Proxy Re-Encryption (PRE). PRE made it possible to bring distributed access control and distributed data without using third parties.

Keep Network and NuCypher merged to create the Threshold Network whose token is simply known as T. T is an Ethereum’s ERC20 token. However, interestingly, after the merger, the two networks maintained their respective tokens. According to CoinMarketCap, Keep’s token has a total market cap of over $200 million while NuCypher’s NU has a market cap of over $123 million.

Threshold Network has a simple role in that it will make it possible for users to stake their Bitcoins and earn rewards. This will happen by having users deposit and redeem their BTC in DeFi without using any intermediaries. This process will happen through the BTC/tBTC bridge, which will simply bring Bitcoin to Ethereum’s network. 

Threshold’s users can also participate in the network by being liquidity providers in the network. These people make money by depositing assets into liquidity pools for automated market making. The available pools are in Curve and Balancer. 

Finally, they can escrow their T tokens to run a node on the Threshold network. Therefore, the Threshold price is soaring as investors wait for the mainnet launch, which is expected to happen in the coming days. Also, it rose after the coin was listed on Coinbase, as shown below.

Threshold T price prediction

The daily chart shows that the Threshold price has been in a strong bullish trend in the past few days. It went parabolic and managed to move above the key resistance point at $0.0263, the highest point on January 17. The coin has soared above all moving averages.

Threshold has pulled back and formed what looks like a bullish flag or a falling wedge pattern. Therefore, I suspect that the coin will resume the bullish trend and retest this month’s high of $0.062.